Trading Statement

Liontrust Asset Management PLC
31 January 2002

31 January 2002

                          Stock Exchange Announcement

           Operating profits from performance related fees receivable

          for the period ended 31 December 2001 exceed £ 1.6 million.

                                 Trading Update

Liontrust Asset Management PLC ('Liontrust') announces that operating profit
from performance fees due and collectable in respect of November and December
2001 accounts is approximately £1.6 million (net of compensation costs using the
compensation formula set out in the company's Report & Accounts for the year
ended 31 March 2001, but before taxation). By comparison the operating profit
contribution from performance fees for 9 months to 31 December 2000 (and for the
full financial year to 31 March 2001) was £2.4 million.

The terms on which performance fees are calculated and earned vary for each
contract and are confidential. However, in some cases payment of a proportion of
the fee earned is deferred until the next performance fee is payable. A further
£0.8 million of operating profit from performance fees (net of compensation
costs as above, but before taxation) will become due for payment on these
accounts if and when a further performance fee becomes payable in the future.

Total funds under management stood at £1.637 billion on 31 December 2001 and
£1.643 billion yesterday, up from £1.276 billion on 31 March 2001. Accounts won
and still in transition amount to a further £259 million.

For further information please contact:

Liontrust Asset Management PLC          Nigel Legge          020 7412 1700

31 January 2002



                      This information is provided by RNS
            The company news service from the London Stock Exchange